Do I have to pay?
No. We are undertaking this initial phase of investigation work at our own expense. If we do propose to proceed with a claim, and you would like to join us, we will not charge you as we go along, entering into a form of "no win, no fee" agreement. That means, unless we help you recover some of the money you have lost, we will not seek any payment from you.
If we establish viable claims, we'll make a funding proposal to interested 'traders', including insurance to protect our clients from adverse costs awards in favour of the other party/parties. Any proposal would therefore be "no win, no fee", with protection against exposure to the costs of the other party/parties.
Our proposal would also be flexible, with a greater return for our clients resulting in a smaller proportion of the total recovery being paid to us/the funder(s). It is, however, too soon to determine those thresholds, which is why we are not asking for an immediate commitment from interested 'traders'. We believe an informed decision can only be made by those affected after the viability of claims is established, including the likelihood of financial recovery.
Will deposits which you already note are segregated, be included in the no win no fee payment
We are considering all possibilities regarding funding. If it is financially viable, as part of our funding proposal, we will exclude any ringfenced sums contained in segregated accounts that will be refunded by Football Index irrespective of legal action.
Can the two law firms pursuing repayment obtain different outcomes/be prioritised?
Alternative law firms could obtain different outcomes. This is far more likely as a consequence of settlement negotiations, if they are to take place. If the matter proceeds to trial, all creditors of Football Index are likely to be treated similarly, as unsecured creditors.
How long will this all take?
We anticipate reporting back with our initial findings and views to those who have registered interest during April 2021. How long any recovery of your money will take depends on BetIndex Limited's actions and subsequently the other associated parties referred to above.
What happens next?
Once you have registered your interest, we will contact you with some information about our views on the claim. If we believe there is a viable claim, we will then explain our initial views on the scope of the claim, provide a proposal to you, and you can then decide whether you wish to join the claim or not.